Memscap's operational result up 85% in 2007

PARIS  French provider of micro-electromechanical systems Memscap SA has reported that its gross margin, amounting to 7.5 million euros, represents 46 percent of the consolidated revenue for fiscal year 2007, ending Dec. 31.

For fiscal year 2007, Memscap stated that its consolidated operational result is negative of 0.9 million euros, compared to a loss of 6 million euros for fiscal year 2006. This represents a 85-percent year-on-year improvement.

Similarly, Memscap indicated that its net consolidated result has improved to minus 0.7 million euros, compared to minus 5.8 million euros for fiscal year 2006. This represents a 88-percent year-on-year improvement.

On December 31, 2007, Memscap said its available cash amounted to 6.7 million euros including cash investments (mutual funds and bonds) recorded under IFRS accounting standards under financial assets available for sale.

After a long period in the red, the Grenoble-based company has recorded profitability for nine consecutive months and an operational profitability for the third and fourth quarters of 2007.

For the fourth quarter of 2007, ending Dec. 31, Memscap released consolidated revenues of 4.5 million euros ($6.5 million), compared to 4 million euros ($5.1 million) for the fourth quarter of 2006, resulting in a 27.5-percent annual growth in dollars.

The company gave no indication of the outlook for the year quarter or year ahead.